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Politics : Rat's Nest - Chronicles of Collapse

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To: Wharf Rat who wrote (12118)	5/9/2011 9:40:50 PM
From: Wharf Rat	Read Replies (1) of 24233

Wholesale gasoline prices skyrocketed today by as much as 30 cents a gallon in the Midwest due to a combination of river flooding problems, and unexpected new refinery problems. Midwest Refinery problems were (1) Chevron Corp. (CVX) said it extinguished a fire at both of its two crude units at its refinery in Pascagoula, Miss. (2) Citgo Petroleum Corp reported emissions at its 167,000 barrel-per-day Lemont, Illinois, refinery due to an unknown cause and (3) Exxon XOM.N said a sulfur recovery unit failed at its 238,600 bpd Joliet, Illinois, refinery. You may remember last Wednesday and Thursday I posted we were only one major refinery incident away from a gasoline shortage somewhere. As of today, as a result of the combined effect of the three new refinery problems and a slow recovery at the largest US refinery in Texas City, we have crossed that invisible minimum operating level threshold and shortages are imminent in some cities in the US Midwest – although it’s not yet clear when and where those shortages will occur, or how severe they will be. Charles Mackay on May 9, 2011 - 4:12pm theoildrum.com Gasoline Gains Most in 19 Months on Flooding, Refinery Problems May 9 (Bloomberg) -- Gasoline advanced the most in 19 months on speculation that fuel production and distribution will be disrupted by Mississippi River flooding and refinery unit shutdowns from the Midwest to the Gulf Coast. sfgate.com.

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